Asia Pacific stocks, Reserve Bank of Australia, interest rate

The Reserve Bank of Australia is expected to keep interest rates unchanged at its next policy decision meeting, according to ANZ forecasts.

“We still expect a really tight pause from the RBA. We don’t expect them to raise interest rates in the next couple of months,” said Adelaide Timbrell, chief economist at ANZ Bank.

This will be the central bank’s first meeting under the leadership of new governor Michael Bullock. according to Reuters pollThe central bank is expected to keep interest rates at 4.10%.

“We will see an extended pause from the Reserve Bank until November next year,” Timbrell predicts, estimating that the bank is likely to start cutting interest rates only in the fourth quarter of next year.

However, the chief economist warned that the “discouraging” inflation results could mean additional risks of further action.

Australia Inflation in August It rose by 5.2% on an annual basis, according to official statistics.

“But every time we get some of these disappointing inflation results… we see the risk that they will need to take further action at some point,” she added.

-Li Ying Shan

Many stocks have become “a little cheaper” and investors can get good returns, according to Ted Alexander, chief investment officer at BML Funds.

Alexander runs the BML Global Fund, which was only launched in September. The fund aims to invest in strong companies that are undervalued in the market, without a bias towards growth or value stocks.

He named five discount stocks to consider now, including one he called a “long-term winner.”

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-Weezin Tan

Irrational behavior due to concerns about the stability of the US banking system has made shares of a wealth manager a cheap investment opportunity, according to value investor Daniel O’Keefe.

O’Keefe, who runs the Artisan Global Value Fund, believes this fear is unfounded and stems from a misunderstanding of the business.

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-Ganesh Rao

The World Bank expects growth in the developing East Asia and Pacific region to remain strong at 5% in 2023. However, it expects growth to moderate in the second half of 2023 and decline to 4.5% in 2024, according to its published regional update. Sunday.

It is estimated that regional growth in the Asia-Pacific region will grow above the average expected for all other emerging markets and developing economies. The latest numbers are certainly lower than previously expected.

Growth in China in 2023 is expected to reach 5.1%. Excluding China, regional growth is expected to reach 4.6%.

— Hakyung Kim

Cryptocurrency prices rose on Monday, pushing Bitcoin to its highest level in more than six weeks.

Bitcoin rose more than 4.5% to $28,329, its highest level since August 17, when it traded at a high of $29,108.3. Ether rose more than 3% to exceed $1,700.

Cryptocurrency-related stocks Coinbase, Marathon Digital, MicroStrategy and Riot rose more than 5% in pre-market trading.

— Hakyung Kim, Jesse Pound, Gina Francola

December gold futures fell to $1,846.60 an ounce on Monday, the lowest level since March 10, 2023 (when it traded at $1,830).

December silver contracts similarly fell to $21.725 an ounce, the lowest level since March 16 ($21.59).

Gold Miners (GDX) and Silver Miners (SIL) ETFs were down nearly 1% in early pre-market trading, led by Harmony Gold, Gold Fields and AngloGold, all of which were down 3% or more.

-Scott Schnepper, Gina Francola